A REVIEW ON THE SOCIOECONOMIC DETERMINANTS OF LIVING WAGE DURING COVID-19 PANDEMIC

Abstract

As Malaysia moves closer to being a high-income country, all residents should strive for a minimum acceptable quality of living. Households are finding it harder to maintain a sufficient quality of living as the cost of living rises. The purpose of this study is to review literature on the socioeconomic determinants of the living wage particularly pre,during and post Covid-19 Pandemic. A household, in this context, refers to an individual or a group of individuals who live together in the same house and make economic decisions collectively, whether related or not. This study used the library research method to collect and analyse the data. We outline the drivers of living wage and analyse the links that exist between living wage and socioeconomic variables arising from the literature, which focuses on empirical works. According to earlier study, housing costs, food costs, transportation costs, communication costs, healthcare costs, education costs, household size, number of full-time jobs, and savings are all key determinants, notably pre, during and post the Covid-19 Pandemic.